Dollar remains generally pressured in Asian session, as selling appeared to have taken off overnight. J&J’s vaccine saga is raising some concerns that it would take longer for US to achieve herd immunity. Or, at least, it’s not brightening the outlook. On the other hand, New Zealand Dollar jumps broadly after RBNZ rate decision, taking Australian Dollar higher today. The trans-Tasman travel bubble between the two countries to start on April 19 provides some optimism to both consumers and service industries.

Technically, Dollar’s decline is gathering momentum. A major focus is on 1.1988 resistance in EUR/USD. Firm break there will affirm the case that correction from 1.2348 has completed at 1.1703. Break of 0.7676 minor resistance in AUD/USD will resume the rebound from 0.7530 and align the outlook with EUR/USD too. We’d also have a look at 1755.29 resistance in Gold. Break of the level will indicate near term bullish reversal in Gold, and double confirm Dollar’s weakness.
In Asia, currently, Nikkei is down -0.22%. Hong Kong HSI is up 1.23%. China Shanghai SSE is up 0.09%. Singapore Strait Times is down -0.34%. Japan 10-year JGB yield is down -0.0112 at 0.092. Overnight, DOW dropped -0.2%. S&P 500 rose 0.33% to 4141.59, new record. NASDAQ rose 1.05%. 10-year yield dropped -0.052 to 1.623.


Source: www.actionforex.com